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Dec 6, 2012
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that time has passed in washington. that has got us into this problem. we want to stop that and really return that we have real growth going forward. >> thank you very much, mr. kevin mccarthy. thank you very much. >> thanks very having me. >>> so bailout detroit? no way. one motown councilwoman says yes. she says president obama owes it to them. don't forget, folks. free market capitalism is the best path to prosperity, not bailouts, thank you very much, but free markets. let detroit take care of detroit. i'm kudlow. we'll be right back after this. [ male announcer ] when this hotel added aflac to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. an
that time has passed in washington. that has got us into this problem. we want to stop that and really return that we have real growth going forward. >> thank you very much, mr. kevin mccarthy. thank you very much. >> thanks very having me. >>> so bailout detroit? no way. one motown councilwoman says yes. she says president obama owes it to them. don't forget, folks. free market capitalism is the best path to prosperity, not bailouts, thank you very much, but free markets....
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Dec 27, 2012
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he's yelling at washington. >> yeah. >> i like that. you see how it's done now. >> it's a beautiful thing. >> all right. rick, and jim iuorio, thank you. i like passion. >> joe, joe, do me a favor. make sure you watch the guest today at 11:20. we have bill prezza and this one's really going to be fascinating. >> i do watch at 11:20. i do, rick. excellent. thanks. who is this guy? >> bill prezza. great writer. he writes things that really get you thinking. >> awesome. all right. don't hold back, rick. >> i never do. >> okay, guys. >> coming up, the impact of the fiscal cliff on the big banks. financial analyst chris whalen. he's here. he's going to join guest host john kanas for a look at the financial sector in 2013. >> when you miss "squawk box" you fall behind on global business news. when you fall behind on global business news, you make bad investment decisions. when you make bad investment decisions, you lose all your money. when you lose all your money, you are tempted to hatch an illegal ponzi scheme. when you hatch an illegal po
he's yelling at washington. >> yeah. >> i like that. you see how it's done now. >> it's a beautiful thing. >> all right. rick, and jim iuorio, thank you. i like passion. >> joe, joe, do me a favor. make sure you watch the guest today at 11:20. we have bill prezza and this one's really going to be fascinating. >> i do watch at 11:20. i do, rick. excellent. thanks. who is this guy? >> bill prezza. great writer. he writes things that really get you...
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Dec 28, 2012
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yes, milk cliff in 1929 a farm law was passed that had washington buy milk at inflated prices. if there's not a move to get a new bill, we'll all pay the price. phil is joining us. how much could a gallon go up to? >> well, mandy, you're right. it could go up probably $3 a gallon. it's not just about a milk cliff. while everybody is talking about the fiscal cliff, there's a farm cliff. secretary vilsack has been calling on the industry, calling on the senate and congress for months to avoid this problem because if the farm bill expires, we've got some real issues. >> so what do you think we should do, phil? what's the solution? >> well, bottom line is we've got to get everybody in washington to wake up. the senate passed it. the house ag committee passed it, but, you know, the house has really not allowed the debate to happen so as a result we've got all of this stuff happening and my fear is we're going to get lost. let's not forget, we've seen prices increase over the past two years dramatically, and especially after this summer's drought, prices went up even more. they're go
yes, milk cliff in 1929 a farm law was passed that had washington buy milk at inflated prices. if there's not a move to get a new bill, we'll all pay the price. phil is joining us. how much could a gallon go up to? >> well, mandy, you're right. it could go up probably $3 a gallon. it's not just about a milk cliff. while everybody is talking about the fiscal cliff, there's a farm cliff. secretary vilsack has been calling on the industry, calling on the senate and congress for months to...
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Dec 26, 2012
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meeting and you still have this problem that we have in washington called the fiscal cliff. i just don't like the way that one's playing out. the reason that's important is that when the market gets into risk op mode they tend to sell the dollar and buy the yen. >>> what kind of levels are we talking about? >> right now we're sitting around 8570. i would comfortably sell the dollar against the yen there. i would put a stop loss at 8715 and my target is 8265. >> nice to see you. hope you had a good holiday. look forward to catching up with you. >> likewise. >> guys, what do you make of what we've seen in dollar yen? weiss, do you have a play? doc? >> well, their market turned on this pretty dramatically. it posted up 1.5% gain on the weakness out of the yen. so if that continues into next year, scott, which based on what he's just said that will not happen, in other words, we're looking at more down side pressure, i think that's good for the markets though. >> joe, tell me why the viewer watching right now should care about what the yen does? >> they should care. this is a se
meeting and you still have this problem that we have in washington called the fiscal cliff. i just don't like the way that one's playing out. the reason that's important is that when the market gets into risk op mode they tend to sell the dollar and buy the yen. >>> what kind of levels are we talking about? >> right now we're sitting around 8570. i would comfortably sell the dollar against the yen there. i would put a stop loss at 8715 and my target is 8265. >> nice to see...
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Dec 28, 2012
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level of a parent kind of corporate hesitancy about their actual business given what is going on in washington. i don't really think that the tangible stakes are that high for most businesses. it just happens to be this overhang. so i do think that is a major concern and really i think that -- >> you can paint it another way. >> hold it. both you guys said that the debt ceiling is a major concern for corporations. >> yep. >> tell me why that is. i'm on the other side of the fence. i don't agree with that. i think once we get, once the corporations know what the bargain is, the grand -- they have some certainty, the biggest risk is this. >> what is the trade-off to raise the spending limit? the trade-off is likely to be the republicans are going to want spending cuts. that is why it is. >> we've been there before with debt ceilings and we've always gotten through. we put the government on hiatus in terms of spending money but we've always gotten through it. to me that is not the seminole issue. if that is i'm happy to be on the other side of the trade. >> i wasn't saying it is an actual issue.
level of a parent kind of corporate hesitancy about their actual business given what is going on in washington. i don't really think that the tangible stakes are that high for most businesses. it just happens to be this overhang. so i do think that is a major concern and really i think that -- >> you can paint it another way. >> hold it. both you guys said that the debt ceiling is a major concern for corporations. >> yep. >> tell me why that is. i'm on the other side of...
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Dec 29, 2012
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. >>> there is some action in washington tonight. at this hour the senate has just passed a $60 billion aid bill for communities slammed by super storm sandy. that vote was 61 for, 33 against. sandy road ashore devastating several areas and the senate rejected a republican amendment to cut the immediate cost to just 23 million clearing the way for final action on the $60 billion bill. the bill now goes to the house where its passage is uncertain because of the non-sandy-related spending items that are in the bill. typical sausage making for washington. >>> let's get to our panel. here now is blake zeff, former obama campaign aide and washington editor. robert, have you heard anything in the last couple of hours that suggests to you that somehow by monday mitch mcconnell and harry reid will sing kumbaya, pass something in the senate that also passes the house? >> i'm not so sure they'll be sing kumbaya, but the real story today is that there's movement on capitol hill. reid and mcconnell come out of that white house meeting and they'r
. >>> there is some action in washington tonight. at this hour the senate has just passed a $60 billion aid bill for communities slammed by super storm sandy. that vote was 61 for, 33 against. sandy road ashore devastating several areas and the senate rejected a republican amendment to cut the immediate cost to just 23 million clearing the way for final action on the $60 billion bill. the bill now goes to the house where its passage is uncertain because of the non-sandy-related...
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Dec 13, 2012
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but one ceo is ratcheting up pressure on washington to get a deal done. let's bring in nick, ceo of snap on tools. he is in town for the yale summit. welcome. >> kb g to be with you. >> why is it so important to get a deal done specifically for your company. >> well, if we good over the fiscal cliff, it can't be good. and of course that ratchets up uncertainty. i think one of the things you can talk about the fed, talk about interest rates, but someone once said or someone said recently, it is a psychology, stupid. when we call on our customers, we see that most important thing is their psychology and getting a deal dpun would help that. >> how would that materially effect your company? would it change your hiring plans? >> i think it can. i think the thing do, if we go off the fiscal cliff, i don't know what depth of that effect would be, but couldn't be good. but we have seen that movie before. we went through recession probably the most whithering so i think ceos, at least our view of it is, is you have to have a good understanding of what are the long
but one ceo is ratcheting up pressure on washington to get a deal done. let's bring in nick, ceo of snap on tools. he is in town for the yale summit. welcome. >> kb g to be with you. >> why is it so important to get a deal done specifically for your company. >> well, if we good over the fiscal cliff, it can't be good. and of course that ratchets up uncertainty. i think one of the things you can talk about the fed, talk about interest rates, but someone once said or someone...
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Dec 7, 2012
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know, catastrophic news out of any part of the world or washington. >> do doors start to open a little bit? i keep hearing 1419, 1420. is there anything special about it? >> you could get into the technical range. that's a level people would to hit or head a few times or barack through it. i don't think we'll have enough fuel to burst through the tank but perhaps we'll see something. >> joe, have a good weekend. >> thanks. >> that does it for us here on a friday morning. let's get back to headquarters. wapner and the fast money half time. >> here is where we stand. take a look at the nasdaq right here in the red as we speak. here's what we're following on halftime today. on notice, netflix's boss reed hasting gets a warning from the s.e.c. what does it mean for the beaten down stock and the company's future? >>> food fight. mcdonald's shares looking golden to one wall street firm. our buyer and seller square off in a super-sized debate. but first our top story, apple's rotten week. the stock's on track to have its worth week in 2 1/2 years. all told more than $40 billion in market cap
know, catastrophic news out of any part of the world or washington. >> do doors start to open a little bit? i keep hearing 1419, 1420. is there anything special about it? >> you could get into the technical range. that's a level people would to hit or head a few times or barack through it. i don't think we'll have enough fuel to burst through the tank but perhaps we'll see something. >> joe, have a good weekend. >> thanks. >> that does it for us here on a friday...
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Dec 7, 2012
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. >> no news is bad news in the case of washington. we're watching this fiscal cliff thing so carefully. let me play the sound bite so you can see the dour expression on speaker boehner's face as he talked to reporters early this afternoon. >> this isn't a progress because there is no progress to report. when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> so we all also from nancy pelosi, the democratic leader in the house of representatives earlier today. she came before cameras also, no news from her had as well. holding pattern here in washington. rhetoric is pretty heated on both sides. you heard boehner there saying the president has wasted a week here. but behind the scenes, aides did give us some indication they'll continue to talk through the weekend so i think what's going on here is you're seeing the public blast of ret lick but behind the scenes they are talking to each other. i think the talks are fair le well coordinated. you can tell that by ho
. >> no news is bad news in the case of washington. we're watching this fiscal cliff thing so carefully. let me play the sound bite so you can see the dour expression on speaker boehner's face as he talked to reporters early this afternoon. >> this isn't a progress because there is no progress to report. when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> so we all also from nancy pelosi, the...
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Dec 12, 2012
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we don't want to draw the best and most skilled workers in washington. >> it is interesting to me, people seem to know this. 67% of us think that the people in the private sector work harder than those in the public sector. the federal workforce has more machine money. we are supposed to be having budget cuts. why isn't anyone looking for it. this is one of the areas where republicans have pushed for spending restraint. there is a lot of money here. federal workers outside of the military cost us $240 billion a year. 100,000 beurocrats in the department of agriculture. let's privatize a lot of it. half a million people work for the post office. let the private sector figure it out. >> president obama has hired 143,000 federal workers since he took office. >> i don't think anybody knew that. >> thank you to chris edwards. i appreciate it. that is it for tonight's show. thank you for watching. we will be back tomorrow evening with much more.
we don't want to draw the best and most skilled workers in washington. >> it is interesting to me, people seem to know this. 67% of us think that the people in the private sector work harder than those in the public sector. the federal workforce has more machine money. we are supposed to be having budget cuts. why isn't anyone looking for it. this is one of the areas where republicans have pushed for spending restraint. there is a lot of money here. federal workers outside of the military...
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Dec 10, 2012
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it seems to me that washington has a way of doing business and washington will continue to change the way -- or continue to do business the way they have always done it. where is us and wall street, we have to change the way we do business. >> so you don't see a big crash in markets as a fall off the cliff. >> no. i see opportunities for people who are less patient. no, i see it all going down. >> where are your clients moving their money? what are you advising them to do, whether we get a deal or not? are there two completely different strategies? >> there is various things on a similar attitude. big is not always good. i think what we are doing is consolidating and moving towards a smaller environment. i think we have smaller investors who can deliver returns. >> what do you mean by that? types of funtds they are investing in. >> that's correct. i will see many professionals from wall street leaving this side of the business. south side of the business and go to the buy side of the business. and expressing their invest many in the criteria. >> they have what kind of outcome or compr
it seems to me that washington has a way of doing business and washington will continue to change the way -- or continue to do business the way they have always done it. where is us and wall street, we have to change the way we do business. >> so you don't see a big crash in markets as a fall off the cliff. >> no. i see opportunities for people who are less patient. no, i see it all going down. >> where are your clients moving their money? what are you advising them to do,...
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Dec 3, 2012
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want to go back to washington. over to you, john. >> just wanted to correct something i said on air and in a graphic. the republican offer the speaker made today does not include the premium support or voucher plan for medicare. it does include, though, the reduction in the inflation adjustment for social security and a rise in the medicare eligibility age from 65 to 67. two other things very quickly. the white house communications director has just put out a statement saying the boehner offer does not meet the test of balance because it doesn't raise tax rates for the wealthy. we also have a statement saying that the republican offer which they are quoting him in making this offer is simply a mid point of proposals and both sides need to come off their fixed position. >> we have 28 days left. thanks so much. as the markets remain laser focused on the fiscal cliff what else should we be watching tomorrow. joining me now to break it down. good to see you. barry, 30 seconds on the clock. what do you want to watch for
want to go back to washington. over to you, john. >> just wanted to correct something i said on air and in a graphic. the republican offer the speaker made today does not include the premium support or voucher plan for medicare. it does include, though, the reduction in the inflation adjustment for social security and a rise in the medicare eligibility age from 65 to 67. two other things very quickly. the white house communications director has just put out a statement saying the boehner...
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Dec 10, 2012
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and stocks are higher as fiscal cliff song and dance continues in washington. mr. boehner says he is waiting for a proposal from this gentleman, the president. president obama. and the president is set to speak about the cliff and the a economy later today. >> i thought i was supposed to come here today. you thought you were supposed to come here today. so we are both here. not really, folks. a lot of talk today is about what investors should do if we go over the cliff. what should we do if there is a debt deal before year-end or shortly thereafter. we have smart strategies and individual stock picks for you this hour. >> that's right. well also take a look at another side of google that you very rarely hear about. the internet giant stashing billions in tax shelters to avoid paying taxes. is that fair play or outrageous corporate behavior? especially in this climate. well talk about that. but first, markets are generally higher. dow jones industrial average up 29 points on the day. nasdaq is up 7. and s&p 500 up about 1 1/2. >> they've been that way about the last
and stocks are higher as fiscal cliff song and dance continues in washington. mr. boehner says he is waiting for a proposal from this gentleman, the president. president obama. and the president is set to speak about the cliff and the a economy later today. >> i thought i was supposed to come here today. you thought you were supposed to come here today. so we are both here. not really, folks. a lot of talk today is about what investors should do if we go over the cliff. what should we do...
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Dec 3, 2012
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dozens of industry leaders are in washington, d.c. taking their case to congress and the president and going over that cliff could be a threat to our national security. let's bring in david hess, president of pratt and whitney. david, how severe is the problem? critics will say that the defense industry has grown pretty much every year for the last 20 years and that we probably spend way too much on defense anyway. >> it's hard to understand that comment. quite honestly what often gets missed in the midst of this debate right now is we're already in the middle of step one of defense budget reductions. we're in the midst of under the budget control act which has already been passed, we're in the midst of a $487 billion defense spending reductions right now. you are seeing that in the headlines and some of the analyses -- >> sorry, david, are those real reductions or are those cuts to projected increases? >> i characterize them as real reductions. you can see that in some of the headlines, unfortunately, we're dealing with across the co
dozens of industry leaders are in washington, d.c. taking their case to congress and the president and going over that cliff could be a threat to our national security. let's bring in david hess, president of pratt and whitney. david, how severe is the problem? critics will say that the defense industry has grown pretty much every year for the last 20 years and that we probably spend way too much on defense anyway. >> it's hard to understand that comment. quite honestly what often gets...
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Dec 26, 2012
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it's an embarrassment how washington's acting. i am begging somebody in washington, step up. be accountable. take responsibility, and solve the root cause of these issues. [ male announcer ] feeling like a shadow of your former self? c'mon, michael! get in the game! [ male announcer ] don't have the hops for hoops with your buddies? lost your appetite for romance? and your mood is on its way down. you might not just be getting older. you might have a treatable condition called low testosterone or low t. millions of men, forty-five or older, may have low t. so talk to your doctor about low t. hey, michael! [ male announcer ] and step out of the shadows. hi! how are you? [ male announcer ] learn more at isitlowt.com. [ laughs ] hey! executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, busine
it's an embarrassment how washington's acting. i am begging somebody in washington, step up. be accountable. take responsibility, and solve the root cause of these issues. [ male announcer ] feeling like a shadow of your former self? c'mon, michael! get in the game! [ male announcer ] don't have the hops for hoops with your buddies? lost your appetite for romance? and your mood is on its way down. you might not just be getting older. you might have a treatable condition called low testosterone...
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Dec 11, 2012
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what the negotiations may turn out to be in washington? the overall sentiment leaping into the end of the year? >> i think relative to santa claus i think ben bernanke is coming tomorrow -- >> they both have white beards beards. >> that environment in essence, why be in cash? why be in treasuries? they're forcing you to go out and acquire risk -- whether you believe it's artificial or not. i think there is credibility in the belief that the lot of it is artificial stimulation. >> doesn't matter. >> it doesn't matter. >> market's going up. you want to be a part of it. >> the market, you are being forced into risk assets. it looks like europe is improving. looks like i merging markets are improving. there's other places for the flows of capital to go. not just the u.s. >> i think boehner sounded like today he was overplaying his hand a little bit. if you step back from the rhetoric, the back and forth posturing in washington, i think you have a market that if you look back in october, the s&p was trading 1470. it pulled all the way back afte
what the negotiations may turn out to be in washington? the overall sentiment leaping into the end of the year? >> i think relative to santa claus i think ben bernanke is coming tomorrow -- >> they both have white beards beards. >> that environment in essence, why be in cash? why be in treasuries? they're forcing you to go out and acquire risk -- whether you believe it's artificial or not. i think there is credibility in the belief that the lot of it is artificial stimulation....
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Dec 27, 2012
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you speak washington ese. the house is convening. the president is -- >> doesn't it just make you sick? >> the were inthing you want to watch is eachon javers. i thought it was a perfect graphic. it's fabulous. you can't make it up. >> what do you do when you don't know what's going to happen, and you really don't. if you can get the debt limit thing right and guess how it's going to turn out or guess that it's actually going to do something, all evidence to the contrary, how would you invest, and when you recognize that none of us probably know and got it wrong the last time the debt ceiling came around. still be conservative and get some great balance sheet, but some names like john ehrlichman. could go savnlt these are names with big balance sheets will last you through to the. >> rick santelli, we spoke to you earlier on the show, did i get the impression that you're feeling a little more helpful? are you feelingmore so after speaking with the senators. >> i think the party will be with the parties doing the right place to actual
you speak washington ese. the house is convening. the president is -- >> doesn't it just make you sick? >> the were inthing you want to watch is eachon javers. i thought it was a perfect graphic. it's fabulous. you can't make it up. >> what do you do when you don't know what's going to happen, and you really don't. if you can get the debt limit thing right and guess how it's going to turn out or guess that it's actually going to do something, all evidence to the contrary, how...
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Dec 28, 2012
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a lot of washington circus going on. we, you know, i think it's pretty reasonable to assume that no politician, no libertarian would ever want the u.s. to default on its debt. so by march we should have a solution to that. then what we are is we're back in an environment of a slow, recovering economy. >> right. >> europe having ring fenced their problems. not solved them. but ring fenced them. and we're seeing the actions of the banks making their changes. it apyrpears to us we're at the early stage of a capital markets recovery as you start seeing the solutions work their way through. >> right. >> in to 2014 retailer investor begin to move into equities and out of fixed income. >> we can only hope. >> yeah. so let me ask you with that. do you go with those where margins are highest like a goldman? do you go where the geographic reach is broadest like a city? your favorite picks are goldman, some of the big center maxim right? >> citi certainly has an advantage in its position internationally as asia picks up citi is goi
a lot of washington circus going on. we, you know, i think it's pretty reasonable to assume that no politician, no libertarian would ever want the u.s. to default on its debt. so by march we should have a solution to that. then what we are is we're back in an environment of a slow, recovering economy. >> right. >> europe having ring fenced their problems. not solved them. but ring fenced them. and we're seeing the actions of the banks making their changes. it apyrpears to us we're...
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Dec 1, 2012
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the one thing we're getting is a runaway spending in washington, d.c. that's the effect of this unlimited print mag sheen that the federal reserve has. >> let's put some gold into the equation. gold as legal tender. thanks very much to shawn fowler. now speaking of gold, thieves impersonating policemen boarded a boat in curacao and stole 70 gold bars worth an estimated $75 million. sounds like a thriller. authorities say there were six thieves wearing jackets with patches saying police who assaulted the captain and took off the gold in three cars. authorities say the shipment was legal but won't say who owned the gold or where it was headed. now, let's turn and do some stock market work. consumer spending fell in a new report out today. so did real disposable income. could have something to do with superstorm sandy. weak in yesterday's third quarter gdp report. profits, and these are the broadest gdp profits, covering about 5 million large and small companies really came in pretty good in the third quarter. up 9% from a year ago. so even though business
the one thing we're getting is a runaway spending in washington, d.c. that's the effect of this unlimited print mag sheen that the federal reserve has. >> let's put some gold into the equation. gold as legal tender. thanks very much to shawn fowler. now speaking of gold, thieves impersonating policemen boarded a boat in curacao and stole 70 gold bars worth an estimated $75 million. sounds like a thriller. authorities say there were six thieves wearing jackets with patches saying police...
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Dec 10, 2012
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nothing's happening in washington. there is no movement towards consensus on either side of the debate. people look at that and say what were we so optimistic about? i think the cliff will be more of an effect afterwards. but to go back to stewart's point, he's talking about 2% growth in spending. 2% consumer growth is probably going to produce a very weak gdp number. although we had a nice number on the boost, we'll have a horrible in the next quarter. which isn't great. that's really the point. 11% rise in fedex sales not going to lead in an 11%? consumer spending. at beast we're looking at 2%. that's not good. >> my 2% forecast is for next year. i think we'll do better this quarter. and you don't sell 15.5 million cars in the month of november if consumers can't get the credit. and they're not in somewhat of a spending mood and feel they have the income to justify it. >> well, it is subprime lending that is driving that. 45% of all new leases are subprime. that's not particularly good. they have cut the lease rates
nothing's happening in washington. there is no movement towards consensus on either side of the debate. people look at that and say what were we so optimistic about? i think the cliff will be more of an effect afterwards. but to go back to stewart's point, he's talking about 2% growth in spending. 2% consumer growth is probably going to produce a very weak gdp number. although we had a nice number on the boost, we'll have a horrible in the next quarter. which isn't great. that's really the...
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Dec 28, 2012
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just about the only thing going on in washington here today. if the white house knew that the president was not going to, making a new offer here today, a lot of the speculation that was going on early and mid-afternoon might have not been healthy necessary for the deal-making dynamic here, because a lot of people were speculating that in fact there was a deal, a mini proposal, something coming new from the president, and then we get to the meeting and find out, in fact, no new offer from the president, reiterating what he said last week on friday, so the speculation got well ahead of events here, and that sort of lends to an air of disappointment here in washington and up there on wall street. we still don't know what exactly happened in this meeting so we're waiting to find out. >> obviously the fiscal cliff is the crisis du jour, chad, were you saying you would prefer to use dips as opportunities. where do you think we will be 12 months from now? no doubt there will be another crisis that we're talking about in 12 months time. what it is we
just about the only thing going on in washington here today. if the white house knew that the president was not going to, making a new offer here today, a lot of the speculation that was going on early and mid-afternoon might have not been healthy necessary for the deal-making dynamic here, because a lot of people were speculating that in fact there was a deal, a mini proposal, something coming new from the president, and then we get to the meeting and find out, in fact, no new offer from the...
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Dec 4, 2012
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saying that's going to allow washington to continue to spend money here on capitol hill. that's been met with a little bit of interest here in the halls of congress because that's a sign that republican conservatives are not entirely thrilled with the speaker's proposal to the president of the united states. it brings up the question of how much the speaker can actually negotiate with the president and how much his hands are going to be tied by dealing with his own conservative caucus here on the hill. talking with those republican members today, it seems like the speaker still has the upper hand. that's going to narrow some of the running room that the speaker has going forward. very, very dicey situation for speaker boehner today. >> all right. we'll be watching that. thank you so much, eamon. want to get to mary thompson now. >> pandora reporting an adjusted loss for the quarter -- adjusted earnings, i should say. up five cents a share on revenue of $120 million. the company also gave guidance for the fourth quarter, seeing an adjusted loss for that period. up 6 to 9 c
saying that's going to allow washington to continue to spend money here on capitol hill. that's been met with a little bit of interest here in the halls of congress because that's a sign that republican conservatives are not entirely thrilled with the speaker's proposal to the president of the united states. it brings up the question of how much the speaker can actually negotiate with the president and how much his hands are going to be tied by dealing with his own conservative caucus here on...
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Dec 12, 2012
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washington has yet to revoke the laws of supply and demand, and we certainly have supplied the economy with a massive amount of liquidity with the same goods and services, the balance has to be priced, and a price situation is going to be higher levels of inflation and they are keeping rates down pretty much right now. >> yeah. >> we have a diminishing level of return, and that's what's happening. we're pushing rates down, but it's not having the impact. >> lower bang for your qe buck as steve liesman put it earlier on. >> thanks for joining us. always good to see you, eyore pento. >> putting fire into the conversation. >> thank you. >>> so much for the holiday cheer. with the rate things are going in washington, there will be plenty of holiday jeer between now and the new year. >> the president's called for $1.4 trillion worth of revenue. that cannot pass the house or the senate. >>> well, two former presidential candidates face off after the break. i feel like i'm going back to 2008 or 2004. steve forbes says no tax hikes for anybody while howard dean argues everybody needs to pay a
washington has yet to revoke the laws of supply and demand, and we certainly have supplied the economy with a massive amount of liquidity with the same goods and services, the balance has to be priced, and a price situation is going to be higher levels of inflation and they are keeping rates down pretty much right now. >> yeah. >> we have a diminishing level of return, and that's what's happening. we're pushing rates down, but it's not having the impact. >> lower bang for your...
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Dec 13, 2012
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if the food fight in washington continues. house speaker john boehner saying the white house seems willing to slow walk our economy up to and over the fiscal cliff. senator reed telling mr. boehner he can't ignore the american people forever. so there they have it. live to capitol hill with one on one interview with representative maxine waters when we come back. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength o
if the food fight in washington continues. house speaker john boehner saying the white house seems willing to slow walk our economy up to and over the fiscal cliff. senator reed telling mr. boehner he can't ignore the american people forever. so there they have it. live to capitol hill with one on one interview with representative maxine waters when we come back. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and...
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Dec 13, 2012
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boehner and reid in washington. do you think that's having any impact on the type of people who buy your products? >> you know, i think any time when there's a lot of talk about what the future may hold for government, for taxation, for financing, that's going to give some people some trepidation about spending. if there's word about the fact that you are going to have higher taxes come the new year, won't have as much to spend, maybe you hold back a little bit. what we like about our business is, it's a relatively low barriers to entry. consumers can buy the luxury of our beauty for $17, $18, $25, $30. this is not a huge investment. and so we're finding a lot of consumers are finding their way into beauty because they don't want to spend $1,000, $2,000 or $3,000 on very luxurious, larger items like a handbag or a new car, for example. so beauty has its frequency shoppers. but that being said, overall, if the consumer is not certain she has the disposal income, perhaps she holds back a little bit. >> sir, one of my
boehner and reid in washington. do you think that's having any impact on the type of people who buy your products? >> you know, i think any time when there's a lot of talk about what the future may hold for government, for taxation, for financing, that's going to give some people some trepidation about spending. if there's word about the fact that you are going to have higher taxes come the new year, won't have as much to spend, maybe you hold back a little bit. what we like about our...
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Dec 26, 2012
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house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than one. >> it could be if we go over the cliff and the storm would be generated by the markets and the loss of confidence in american governance and the american economy, but that's not necessarily going to be the case. we still have a few days left. a white house official told me that there have been no progress over the last couple of days, but an aide to senator harry reid told me there's still a 50/50 chance we get a mini deal that would put off the effects of the cliff at least temporarily and a 50/50 chance of that happening before january 1st. so even though there's a small number of days, sometimes the urgency of a deadline forces lawmakers to overcome differences they can't overcome otherwise. >> remind us, john, a mini deal is composed in the senate but still has to pass through house republicans and boehner or not? >> yes. and the
house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than one. >> it could be if we go over the cliff and the storm would be generated by the markets and the loss of confidence in american governance and the american economy, but that's not necessarily going to be the case. we still have a few days left. a white house official...
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Dec 11, 2012
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we'll be back tomorrow night from washington, d.c. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. ♪
we'll be back tomorrow night from washington, d.c. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ governor of...
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Dec 6, 2012
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it's dangerous to hear about washington talk the cliff is harmless but i do think the threat of it is so significant and investors are so concerned about it that it does make me think a lot more of the cliff is discounted in current stock prices. >> i'm surprised, tom, in the notes you say you don't think we're going to go off and what would happen to the stock market? stocks and investors have been held hostage by the trading action over the last several weeks. >> that's right. yes, and that's right. so we don't expect us to actually fall off the cliff. our base case and it's something that we spend every week really discussing is that about a third of the cliff is realized, in other words we get about a third of the total impact, two-thirds being deferred and that's already in the gdp forecast, roughly 1% in the first half. that's a scenario that's not going to justify investors being risk off and sitting on the sidelines but the time to recognize that scenario is not going to happen towards the end of the year so i still have this vision of investors being cautious, we get developm
it's dangerous to hear about washington talk the cliff is harmless but i do think the threat of it is so significant and investors are so concerned about it that it does make me think a lot more of the cliff is discounted in current stock prices. >> i'm surprised, tom, in the notes you say you don't think we're going to go off and what would happen to the stock market? stocks and investors have been held hostage by the trading action over the last several weeks. >> that's right....
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Dec 27, 2012
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>> i kind of agree with the consternation and concern of washington and everybody there. we look at the position of one of three possibility, back to upside normalized growth, complete downside recession. and the middle of the road scenario, we begrudge this and keep doing it sloppily every once in a while, as we have been recently but manage to make our way longer term. we think that scenario is more likely and the upside has to be discounted and downside scenario we have to recognize is not an immaterial risk. positioning portfolios, this is not an environment to hide and cash in treasuries but not blindly buy any and all equities out there, you pick the risks you take, buy quality dividend companies to protect those portions of your portfolio you're taking some equity risk with. use covered calls and sell options to cap your upside but give you extra cash flow in the other two environments, then use other defensive mechanisms, risk taking but still defensive in orientation. high yield bonds, bank loans, sovereign debt in the emerging markets getting 5-7% interest payme
>> i kind of agree with the consternation and concern of washington and everybody there. we look at the position of one of three possibility, back to upside normalized growth, complete downside recession. and the middle of the road scenario, we begrudge this and keep doing it sloppily every once in a while, as we have been recently but manage to make our way longer term. we think that scenario is more likely and the upside has to be discounted and downside scenario we have to recognize is...
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Dec 13, 2012
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now to washington, d.c. with fed chairman ben bernanke sent a chill down the spine of traders on wall street. bernanke said the fed's money printing should last only until we hit 6.5% unemployment. markets didn't like that one bit and a good rally was completely erased. and we go to damascus where the assad regime is firing scud missiles and where did those missiles come from anyway? >>> in a letter to senate majority leader harry reid, 18 democratic senators are requesting a sweetheart deal to delay a 2.3% medical device tax that is part of obama care. due to start january 1st. but you know what, may i with all respect, these guys are hypocrites. they're not supply siders. yes, the tax is a job killer, as they say, but it's only hitting their states. the senators claim the medical device tax kills jobs but why aren't they against all the other job killing obama care taxes or for that matter the fiscal cliff tax hikes that are coming. let's faulk about this. we have igor volsky and guy benson. guy benson, i
now to washington, d.c. with fed chairman ben bernanke sent a chill down the spine of traders on wall street. bernanke said the fed's money printing should last only until we hit 6.5% unemployment. markets didn't like that one bit and a good rally was completely erased. and we go to damascus where the assad regime is firing scud missiles and where did those missiles come from anyway? >>> in a letter to senate majority leader harry reid, 18 democratic senators are requesting a...
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Dec 27, 2012
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what on earth is happening in washington, folks? when we run through what exactly no deal means for you step by step just how annoyed are you going to feel? lots of things coming up on ""street signs."" >> i'm annoyed, mandy. four days to go before america goes over the fiscal cliff. what does that really mean for average snerns how would going over the cliff affect you? jackie deangel lis is at cnbc hears. >> four days away, not a lot of time at all. a lot is at stake for all-americans if washington can't come to some sort of agreement before the deadline. while some groups will be impacted differently, the key here is that everyone will be paying more. consider those who make roughly $20,000 a year or less. they'll be paying on average $412 more. if your salary is in the $64,000 range, you're going to be paying almost $2,000 mosh. remember, that's why president obama was talking about my 2 k. he wanted to get the middle class to weigh in on the tax debate. that's how much they'll be paying. if you make a little bit over $100,000,
what on earth is happening in washington, folks? when we run through what exactly no deal means for you step by step just how annoyed are you going to feel? lots of things coming up on ""street signs."" >> i'm annoyed, mandy. four days to go before america goes over the fiscal cliff. what does that really mean for average snerns how would going over the cliff affect you? jackie deangel lis is at cnbc hears. >> four days away, not a lot of time at all. a lot is at...
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do you think the city of washington is going to implode? do you think federal government is not going to be able to do its job anymore? i don't believe any of that for one nano second. >> i think that's a no, no and no if i recall correctly what the questions were. the sun is still going to come up. right now i think the first place to start cutting, i would eliminate the jobs of the people that say there's no place to cut. if they can't find a place to cut get rid of them. >> this is the old washington monument syndrome. you know this. when i worked down there, anytime there's a little bit of cuts someplace people start saying we're going to have to close down the washington monument. we're going to have to close down the national parks. we'll never have another tour nift washington, d.c. it's all lot of crap, ernie. all this is would be a small reduction in the growth of the federal workforce. and god knows we could use that. >> i know up wouldn't it be wonderful if we could actually bring that down to a freeze or even a 1% actual cut? no
do you think the city of washington is going to implode? do you think federal government is not going to be able to do its job anymore? i don't believe any of that for one nano second. >> i think that's a no, no and no if i recall correctly what the questions were. the sun is still going to come up. right now i think the first place to start cutting, i would eliminate the jobs of the people that say there's no place to cut. if they can't find a place to cut get rid of them. >> this...
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this is new video from washington. members only. membership has its privileges. we're 26 days away from going over the fis calf cliff and these are members of the house of representatives walking out. they're going home. no session tomorrow, long weekend. they need a rest. i hope someone can explain this to me. >>> the bears taking a big bite out of apple computer today. the stock getting hammered. has apple lost its mojo or does the company still have room to run? >>> and city, the big slash. knife coming down on 1,000 jobs. the cfo is set to speak about the shake-up right now and we will have the very latest on this very widely held stock which has been moving higher tod today. >>> we have a rally on our hands despite some downward pressure in apple. two of the biggest names in the most widely held stocks around, citi and apple topping the news this hour. headlines aren't good. apple right now is down about 4%. back in bear market territory, down 22% from their historic intraday high of $705 set back in september. right now shares are trading at $551.33. bob pi
this is new video from washington. members only. membership has its privileges. we're 26 days away from going over the fis calf cliff and these are members of the house of representatives walking out. they're going home. no session tomorrow, long weekend. they need a rest. i hope someone can explain this to me. >>> the bears taking a big bite out of apple computer today. the stock getting hammered. has apple lost its mojo or does the company still have room to run? >>> and...
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Dec 26, 2012
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. >> president comes back to washington, he'll get on a flight in just a couple of hours, we'll be back at 7:00 east coast time in washington tomorrow, assuming the weather allows air force one to get through all of that. in many teen time. and then, presumably, maybe some of the negotiations can get back on track at that time. in the meantime, the dow down 24 points today. that's it for us. thank you for watching. >> and "fast money" starts right now. stay tuned to cnbc. >> we'll see you tomorrow. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. retail wreck. santa delivered coal for most today. should you be betting on a bounce back? the global race to print money is on. and we've got the best ways to play japan's easy money. and 2013 trades. top picks in an uncertain world also "fast money" goes fast forward into next year. first, to our top stories. five days to go until the fiscal cliff and the heat is turning up on both sides of the aisle. house speaker john boehner says the senate needs to act first. meanti
. >> president comes back to washington, he'll get on a flight in just a couple of hours, we'll be back at 7:00 east coast time in washington tomorrow, assuming the weather allows air force one to get through all of that. in many teen time. and then, presumably, maybe some of the negotiations can get back on track at that time. in the meantime, the dow down 24 points today. that's it for us. thank you for watching. >> and "fast money" starts right now. stay tuned to cnbc....
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Dec 28, 2012
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thanks, guys. >> there was another surprise coming out of washington today. the unexpected resignation of ep achieve lisa jackson. why is she lng now? is this good news for coal miners, frackers and the keystone pipeline and we're about to get more on that story just ahead. >> don't forget, free market capitalism is the best path to prosperity and not crushing regulations. the kudlow report is coming right back. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. this is how mommy learned... ...and now... you! [ giggles ] ♪ the one and only, cheerios >>> breaking news now. the associated press reporting that retired general norman schwarzkopf one of the heroes of the first gulf war has died in tampa, florida. he w
thanks, guys. >> there was another surprise coming out of washington today. the unexpected resignation of ep achieve lisa jackson. why is she lng now? is this good news for coal miners, frackers and the keystone pipeline and we're about to get more on that story just ahead. >> don't forget, free market capitalism is the best path to prosperity and not crushing regulations. the kudlow report is coming right back. mine was earned off vietnam in 1968. over the south pacific in 1943. i...
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Dec 14, 2012
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i spent three days in washington with a wife of supreme court judge last summer. i felt like taking a bath after i was there for three days. everybody's got their hand out for shotgun. -- something. >> katie, mr. john boehner, i respect him enormously. but he's in a pickle. if you're trying to rebrand the republican party and john boehner wants a compromise with president obama, that compromise is going to be very large tax hikes. you may not get the spending cuts you want. you may not get the entitlement reform, but it will have the gop footprints all over it. how do you brand under those circumstances? >> well, i think that as long as you explain the cuts, so if you explain that cutting spending is good and it's going to allow you to create jobs and allow you to keep more money here in the united states, people are going to understand that. but the problem with the republican party is that they often don't explain why cutting spending is a good thing. so when these triggers happen and when spending cuts happen, people just see them as sacrificial and something t
i spent three days in washington with a wife of supreme court judge last summer. i felt like taking a bath after i was there for three days. everybody's got their hand out for shotgun. -- something. >> katie, mr. john boehner, i respect him enormously. but he's in a pickle. if you're trying to rebrand the republican party and john boehner wants a compromise with president obama, that compromise is going to be very large tax hikes. you may not get the spending cuts you want. you may not...
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Dec 11, 2012
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becky there in washington, d.c. all day coverage today on cnbc. you don't want to miss that. >>> and coming up on european "squawk box," this man could be the next prime minister of italy. try and catch that if you can. see you back here tomorrow.
becky there in washington, d.c. all day coverage today on cnbc. you don't want to miss that. >>> and coming up on european "squawk box," this man could be the next prime minister of italy. try and catch that if you can. see you back here tomorrow.
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eamon javers joins us now from washington with all the details. good evening. >> reporter: good evening. leapt me walk you through the specifics or at least what specifics we have so far from this boehner counter offer and you can see where it falls short from the white house's perspective right in the top line take a look at the details here. boehner and the other house republicans are asking for $800 billion in new tax reform revenue. that's short of the $1.6 trillion that the president would like to see there. also health savings of $600 billion. mandatory savings of $300 billion. revisions of cpa of 200 billion. other discretionary saving 300 billion. they say net savings is $2.2 trillion all told. the white house says this plan is not balanced, and interestingly there's a little side skirmish here between the speaker of the house john boehner and erskine bowls. boehner said this was based on a report that bowles laid out. bawls said no. he said the approach laid out does not represent the simpson-bowles plan or the bowles plan. in fact what b
eamon javers joins us now from washington with all the details. good evening. >> reporter: good evening. leapt me walk you through the specifics or at least what specifics we have so far from this boehner counter offer and you can see where it falls short from the white house's perspective right in the top line take a look at the details here. boehner and the other house republicans are asking for $800 billion in new tax reform revenue. that's short of the $1.6 trillion that the president...
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Dec 5, 2012
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today's top story, a washington standoff continuing. fiscal cliff negotiations appear to be going nowhere. today president obama will meet with members of the business round table. plus, on the economic calendar, the november adp report on employment is due at 8:15 eastern. u.s. equity futures at this hour are indicated higher. not much happened yesterday. it's wednesday, december 5th, 2012, and "squawk box" begins right now.
today's top story, a washington standoff continuing. fiscal cliff negotiations appear to be going nowhere. today president obama will meet with members of the business round table. plus, on the economic calendar, the november adp report on employment is due at 8:15 eastern. u.s. equity futures at this hour are indicated higher. not much happened yesterday. it's wednesday, december 5th, 2012, and "squawk box" begins right now.
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in our headlines, adults can now legally buy marijuana in washington state. last month voters approved a measure make recreational use of marijuana legal. and that go mrs. to effect today. state law now allows adults over the age of 21 to possess up to an ounce. that contradicts federal law and the question is whether that bring a debate. will the feds be forced to take action. washington state now though will be licensing make your mayor grower, processors and stores. but driving under the from yinf marijuana is still unlegal. no idea how they measure that. >> i think there's a way to measure thc content. >> like a breathalyzer? >> i don't know. i don't know how you do it for -- i figure if you see someone going really slow with a car full of twinkies, you say you have reasonable -- of course it's hard to get twinkies. anyway, this morning the joint economic committee will be holding a hearing on the fiscal cliff and protecting the middle class and what can we expect out of the hearing. kevin hasset will be testifying today. director of economic studies. he
in our headlines, adults can now legally buy marijuana in washington state. last month voters approved a measure make recreational use of marijuana legal. and that go mrs. to effect today. state law now allows adults over the age of 21 to possess up to an ounce. that contradicts federal law and the question is whether that bring a debate. will the feds be forced to take action. washington state now though will be licensing make your mayor grower, processors and stores. but driving under the...
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Dec 12, 2012
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i want to talk to you specifically about something else going on in the washington. you were no fan of the president in the run up to the election and there were so many people on wall street who frankly were not fans and were outspoken about it. now, there seems to be a move afoot within washington and some level on wall street to try to mend those fences. what's going on? can you take us behind the scenes a little bit? >> i think it's pretty clear we're supposed to be one country. we have a new president, we have a four year run and i think people have to find some common ground. i think the president is reaching out pretty aggressively in the context of trying to make connections to the other side to get a budget deal done which i think he's really very committed to wanting to do. >> when you look at the election results, and you look at where we are in this conversation about the fiscal cliff and raising taxes, do you say to yourself, that he has a mandate to raise tax rates or not? >> well, geez, i think he thinks he does in a certain way. i think that the numbe
i want to talk to you specifically about something else going on in the washington. you were no fan of the president in the run up to the election and there were so many people on wall street who frankly were not fans and were outspoken about it. now, there seems to be a move afoot within washington and some level on wall street to try to mend those fences. what's going on? can you take us behind the scenes a little bit? >> i think it's pretty clear we're supposed to be one country. we...
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Dec 4, 2012
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you can sort of knefeel it with what's happening in washington. plus how many people are selling stocks just because they'll take their gains this year. because taxes will be higher next year. >> you're seeing people with if you have a large position in a company, this is probably the right time to take it. if it's a large percentage, 10%, 15%, 20% of your net worth, sell it now. >> and if you're planning to retire in the next three to five years, you're probably better off doing your allocation change thousand than you are saying -- >> this might be awful next year, too. isn't moynihan going to -- if we go over the cliff, it's not going to be a great year for stocks. >> it won't be a great year for hiring. >> left's already started. everybody is hiring temporary workers. they're not buying. they're leasing. you have more up front costs because you're trying to defer any long tirm purchase. but that's been happening now for two months. so you can look at the other way and say if we actually get a resolution, you might have more certainty which we'
you can sort of knefeel it with what's happening in washington. plus how many people are selling stocks just because they'll take their gains this year. because taxes will be higher next year. >> you're seeing people with if you have a large position in a company, this is probably the right time to take it. if it's a large percentage, 10%, 15%, 20% of your net worth, sell it now. >> and if you're planning to retire in the next three to five years, you're probably better off doing...
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Dec 7, 2012
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they are incentivized by an anti-hydrocarbon leadership on the part of the democratic authorities in washington, they will take advantage p take over the states' jurisdiction by setting standards that are beyond what we know today that are not necessary because we know what we know today. and let's be clear. the industry is doing everything it knows how to do to continually make fracking and continually make the whole process, including capturing methane, better for everybody. >> it's an economic miracle if they would just let it happen. it's an economic miracle. many thanks to john. we appreciate it. >>> now, have you all noticed the u.s. and global stock markets are actually rising, in many cases to multi-year highs? we have some key numbers and some forecasts coming up next. the stocks are more optimistic than the experts. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large pr
they are incentivized by an anti-hydrocarbon leadership on the part of the democratic authorities in washington, they will take advantage p take over the states' jurisdiction by setting standards that are beyond what we know today that are not necessary because we know what we know today. and let's be clear. the industry is doing everything it knows how to do to continually make fracking and continually make the whole process, including capturing methane, better for everybody. >> it's an...
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Dec 5, 2012
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. >> "the washington post" did a column on this where they look through some of tim geithner's numbers and it was a little concerning. >> smoke in mirrors. >> goes after the entitlements. >> but this is the deal that's going to happen. the cuts there are going to be real or the republicans won't play. >> right. >> and in return, the revenue side of the equation is going to be more consistent with what the president's looking for. i think he's serious about the rates. >> you can't even guarantee that guys like demint and that wing of the part -- you saw what he said yesterday. >> i didn't see what he said. >> he said no way. 800 billion in tax increases. we're saying it now like it's normal. 25% of gdp for government spending and you've got bloated government already, you start there. you start at government spending. you don't immediately start spending another 50 billion in stimulus. >> that's going to be the question that boehner has to deal with. the president will have to deal with the far wings of his party. boehner started doing it. did you see they removed two tea party members
. >> "the washington post" did a column on this where they look through some of tim geithner's numbers and it was a little concerning. >> smoke in mirrors. >> goes after the entitlements. >> but this is the deal that's going to happen. the cuts there are going to be real or the republicans won't play. >> right. >> and in return, the revenue side of the equation is going to be more consistent with what the president's looking for. i think he's...
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Dec 4, 2012
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but we'll start in washington. the president meeting with six governors around the country to discuss the fiscal cliff. our be john harwood is live to talk about the impact of that meeting, john, and the impact of this offer that we got from the republicans yesterday. >> reporter: carl, we haven't heard from the president or the governors yet in this meeting. we did just get some remarks that gene sperling delivered in which he responds to boehner's letter calls the baoehner offer disappointing and says that an accept aps by republicans that rates have to go up is the key to unlocking a deficit reduction agreement. now that's consistent with everything that's happened at the white house since the election, essentially trying to break down republican resistance to raising top rates which is very popular with the american people. however, as i mentioned when we talked in the last hour, are the significance of the republican offer is that they have laid out and taken ownership of cuts to entitlement programs, medicare
but we'll start in washington. the president meeting with six governors around the country to discuss the fiscal cliff. our be john harwood is live to talk about the impact of that meeting, john, and the impact of this offer that we got from the republicans yesterday. >> reporter: carl, we haven't heard from the president or the governors yet in this meeting. we did just get some remarks that gene sperling delivered in which he responds to boehner's letter calls the baoehner offer...
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Dec 27, 2012
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they are not in washington, d.c. the house of representatives are not here. they couldn't even get the leadership together yesterday. they had to do it with a teleconference. republican leadership. we go over the cliff, we will be left with the knowledge that could have been prevented with a single vote and the republican-controlled house of representatives. speaker, prior to this session starting today, the presiding officer and i had a conversation about how things have changed around here. i served in the house of representatives. there's 435 members of the house. what goes on in this country shouldn't be decided by the majority. it should be decided by the whole house of representatives. everyone knows, including the speaker of the house house of representatives today, that if they had brought the house -- i'm sorry, the senate-passed bill that would give relief to everyone making less than $250,000 a year, it would pass overwhelmingly. every democratic would vote for it and republicans would vote for it. but the speaker, he says no, we can't do that t ha
they are not in washington, d.c. the house of representatives are not here. they couldn't even get the leadership together yesterday. they had to do it with a teleconference. republican leadership. we go over the cliff, we will be left with the knowledge that could have been prevented with a single vote and the republican-controlled house of representatives. speaker, prior to this session starting today, the presiding officer and i had a conversation about how things have changed around here. i...
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Dec 11, 2012
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. >> washington. and our special coverage of the fiscal cliff continues and our guest host cliff robbins is here. we've got to talk to him. at 8:30 a.m. eastern. bob corker, remember his comments from yesterday, also democratic senator kent conrad who is not trying to get re-elected, so he may be forthcoming today on the path to compromise. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. at your local wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> what i care about i
. >> washington. and our special coverage of the fiscal cliff continues and our guest host cliff robbins is here. we've got to talk to him. at 8:30 a.m. eastern. bob corker, remember his comments from yesterday, also democratic senator kent conrad who is not trying to get re-elected, so he may be forthcoming today on the path to compromise. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter...
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Dec 14, 2012
12/12
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with brian moynihan in washington. laying out a frimwork where mortgage deduction is not hurt, or not taken away, not limited by any means by capitol hill. >> there's a lot of worries about the interest margin for all the banks. the banks did well. it's an inexpensive stock. >> and monster run the past year 689 monster run. >> huge run. countrywide did not. ever since buffett -- buffett is a brilliant investor. warren buffett got that preferred. called the bottom on the bank of america. >> dow sitting on a four-point gain. apple not that far away from the november lows of 505. last check at 514. here's what's next on "squawk on the street." >> coming up, before you start taking off your friday trades, listen to what cramer says. don't worry, it will only take a minute. 6 stocks in 60 minutes, "squawk on the street" will be right back. with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at
with brian moynihan in washington. laying out a frimwork where mortgage deduction is not hurt, or not taken away, not limited by any means by capitol hill. >> there's a lot of worries about the interest margin for all the banks. the banks did well. it's an inexpensive stock. >> and monster run the past year 689 monster run. >> huge run. countrywide did not. ever since buffett -- buffett is a brilliant investor. warren buffett got that preferred. called the bottom on the bank...
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Dec 10, 2012
12/12
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in washington. that's right. but we got -- all the s.b. >> you know, erskine, when you look at what the odds are, the argument in the past has always been, i needed to talk about this a little earlier this morning, the idea that we will get some sort of higher rates now. the argument from the republicans has been if we agree to higher tax cuts now and agree to spending cuts later we're going to get the short end of the stick because that never happens. what do you think is the fair way they should be thinking about this, and a realistic way? >> i think if they agree to higher rates now in some form that you'll see these others fall into place really quickly. the president has signaled he's prepared to do some things on entitlement cuts now. i could envision some that he would do. you saw, as example, i don't think durbin would have been out there saying that he could live with something like means testing if he wasn't serious about it. >> mm-hmm. >> i would like to see, you know, i'd like to see something done wi
in washington. that's right. but we got -- all the s.b. >> you know, erskine, when you look at what the odds are, the argument in the past has always been, i needed to talk about this a little earlier this morning, the idea that we will get some sort of higher rates now. the argument from the republicans has been if we agree to higher tax cuts now and agree to spending cuts later we're going to get the short end of the stick because that never happens. what do you think is the fair way...
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Dec 11, 2012
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while washington quarrels with itself, time is slipping away. the only solution for our government to put differences aside and put real compromise on the table. rise beyond disparity. rise past adversity. rise above. this is a cnbc special report. mission critical. rise above dc. >> our special mission critical rise above dc coverage continues right now. all day long we are here in washington holding lawmakers' feet to the fire on the fiscal cliff. here's what we know right now. in terms of some of the moments from this morning, senator mark warner from virginia saying compared to the size of our economy and the drastic steps that have been taken in other countries the current proposals are relatively small and government should just step up and get a deal done. senator bob corker, though, hesitant about signing any deal if there's not some sort of agreement about increasing revenue. he says there's no guarantee enough will be done about entitlements down the road. and as he looks in on the process, grover norquist maintains there's no better r
while washington quarrels with itself, time is slipping away. the only solution for our government to put differences aside and put real compromise on the table. rise beyond disparity. rise past adversity. rise above. this is a cnbc special report. mission critical. rise above dc. >> our special mission critical rise above dc coverage continues right now. all day long we are here in washington holding lawmakers' feet to the fire on the fiscal cliff. here's what we know right now. in terms...